Allied Market Research

Robotic Process Automation Market Will Expand in the Coming Decade as Per Report

Portland, OR -- (SBWIRE) -- 10/05/2017 -- BFSI industry is transforming their core operations to address significant industry disruptions from FinTechs and digital. Robotic process automation is used to optimize operations and improve speed and accuracy of core business processes. It can drive 25-50% cost savings by automating repetitive tasks, data-intensive, and by improving the accuracy and efficiency of process execution.

Growth in adoption of RPA technology by organizations to enhance their performance, capabilities, and reduce operational costs drives the Robotic Process Automation Market. In addition, ease in business processes, increased efficiency and cost-effective and highly profitable operation provided by RPA propels the growth of the market. However, data insecurity risk and less potential for RPA in knowledge-based business processes limit the growth of this market. Furthermore, integration of new technologies with robotic process automation is expected to provide numerous opportunities for the market.

Robotic process automation (RPA) is a software-based approach, which replicates user actions to reduce or eliminate human intervention in repetitive, mundane, and manually intensive processes. By automating these manual processes BFSI industry can improve efficiency and accuracy. In addition, virtual workers can be deployed 24/7 by reducing latency and driving higher levels of productivity.